Member Info for Eazy

More bondssss lol…

But good news…one of the resident bondholders that has been coverting recently is now finished :)

January 6th RNS -

“2025 Convertible Bonds principal amount outstanding: $12.8 million (64 bonds)

2025 Bondholders: 4”

Today -

“2025 Convertible Bonds principal amount outstanding: $8.6 million (43 bonds)

2025 Bondholders: 3”

Fishes can’t survive without water for long…stop providing the water supply ;)

Crude oil back over the very sticky $80…can it make a break for it and push higher? Very good for COPL if it can as they’re currently unhedged!

You could email Art and Ryder Scott those exact questions lol… I was just referring to one of your points that wasn’t 100% true

Even still all that matters at this stage is that the technical due diligence check from the JVP is complete ruling out any potential red flags and Art is now in FINAL stage talks with the JVP with the aim to announce detailed terms as soon as they are agreed.

“2. they don't understand the big find was ONLY covered in a resource report”

Well actually the reserve report did make a reference to the billion barrel oil find albeit small. It highlighted the OIP with figures stated the same as what was in the resource report in relation to the ‘Dakota’ and ‘Frontier 2’ formations.

I’m assuming they left out the Frontier 1 as at the time COPL had no producing wells out of the Frontier 1 which has recently changed as per January 23rd RNS.

Just a repost of the timeline of JV talks progression via RNS below…we’ll be due an update very soon :)

4th Oct -

“COPL has been approached by a large recognised oil company regarding a JV to delineate and develop the discovery, with discussions continuing.”(From presentation)

1st Nov -

“Due diligence is being conducted by a large oil company with respect to a possible Joint Venture on the Company's deep oil discovery.”

15th Nov -

“Due diligence and discussions continue with respect to a possible Joint Venture on the Company's deep oil discovery by a large oil company which approached COPL's COPL America Inc affiliate. The Company will provide an update at the appropriate time. The Company is encouraged by the progress to date.”

21st Dec -

“As previously disclosed, COPL was approached late in the third quarter by a large oil company ("JV Party") inquiring if the Company was interested in a Joint Venture partner to appraise and develop its Barron Flats Deep oil discovery announced in September 2021. The Company is bound by a non-disclosure agreement ("NDA") with the JV Party and as such is limited in its ability to disclose their identity and the nature of the discussions to date until after an agreement is entered.

The JV Party conducted technical due diligence on the Company's interpretation and technical information of its deep oil discovery which was presented as a significant extension to the Frontier and Dakota oil accumulation at its 100% working interest operated Cole Creek oil field. As common in industry the JV Party would also conduct their own internal evaluation, which we believe has been completed.

In early November, the Company presented its outline of a joint venture to the JV Party for discussion. COPL understands the concept is moving through their internal processes as the Company has been asked for additional time for the JV Party to present a potential way forward. COPL has agreed to this request and has been recently advised that a potential way forward will be presented by the JV Party in early January 2023.”

23rd Jan -

No RNS about the JV but Art confirmed the JV party requested and was sent the data of the successful frontier 1 completion(Which confirmed JV party had got back to him in January but talks still ongoing)

1st Feb -

“The Company confirms that it is actively negotiating terms for a joint venture for the long-term development of its Wyoming assets. The Company plans to announce the detailed terms as soon as they are agreed.”

Might’ve been missed(well I missed it lol) when the production figures came out the other day but the CC 11-27 data is now showing again after coming back online in January after the successful re-completion for frontier 1 production.

http://pipeline.wyo.gov/wyoprod.cfm?UserOk=Y&oops=ID43577&nApino=2523810455

Very high intake of water in January whilst clean up process was still being done but flow rate logged was above 100 bpd(Fluid) for the 25 days captured which backs up what Art has said.

The above figures have likely improved up until now with the RNS stating on the 24th January;

“· 11-27-35n-77w well is currently pumping 125-135 bbl./d of fluid through 65' of unstimulated perforations, with gasified light oil cuts of up to 86% observed late last week”

Also want to point out that 2 wells are still offline(Producing wells shut down mid-late December) in Cole Creek pending re-completion works also…

CC 4-27 - Should hear something on this very soon

CC 11-22 - Still waiting for official confirmation of start

Good article from Bloomberg today… The majors want more oil!

“After announcing ambitious plans to cut emissions, BP, one of the world’s top crude producers, is now plowing more money into fossil fuels. Oil consumption is heading for a record this year, according to the International Energy Agency, which advises major economies. Supply — buffeted by Russia’s invasion of Ukraine, a slowdown in US shale growth and lackluster investment in production — can’t keep up.

It all comes down to China: The world’s second-biggest oil consumer is snapping up crude after reversing its strict Covid-19 policies. Against a backdrop of tight supply, the demand boost has everyone from Goldman Sachs Group Inc. to trading powerhouse Vitol Group predicting a rally to $100 a barrel later this year.

“The demand from China is very strong,” Amin Nasser, CEO of Saudi Aramco — the world’s biggest oil company — said in a March 1 interview in Riyadh. 

By the second half of the year, analysts say, the market will face a shortage — a scenario that will loom over the industry leaders meeting this week in Houston for CERAWeek by S&P Global, a major annual energy conference.”

https://www.bloomberg.com/news/articles/2023-03-05/oil-prices-threaten-to-hit-100-a-barrel-with-chinese-demand-soaring

Shaa we could potentially have 3 wells re-completed by the end of March…

CC 11-27: Completed

CC 4-27: In progress since February

CC 11-22: Still yet to get official confirmation of start

Nearly back over $80…all unhedged :)

The ‘game-changer’ comment was because the ‘proof of concept’ was confirmed imo…Exxon Mobil tried to do this before and failed but COPL succeeded which no doubt the JVP was happy about.

They(JVP) was informed instantaneously of the positive results which as a result ‘enhances’ Arts position in the JV discussions…I believe this was the final nail required to move into FINAL stage talks in regards to the terms…hopefully we don’t have to wait much longer.

Interview after the successful re-completion of the first CC well:

https://youtu.be/KDarcuitfRo

Great post tiburn. The market can’t sleep forever and when it finally wakes up it’ll be a sight to see!

Heading shows progress is being made since January…onwards and upwards.

Also I’m sure this has been covered but for those that don’t know… the Fed Deep drill location is around 2.5 miles directly east of the 3 CC wells currently being re-completed…very interesting :)

Surfer I also felt it on the 28th February haha ;)

Another RNS before the end of next week? Hmmm I feel something in my bones lol

All Art said was they were a ‘large’ oil company and others enquired about a potential JV but they were ‘much smaller’.

Also made the effort of stating the larger company was more ideal due to the size and because they already know each other.

Blackstout my understanding is it would cost anywhere between $4-$6m per horizontal well and time to target depth from start is about a month.

In November/December indication was given all was going ahead in January subject to certain things falling in place, which quickly got pushed back. I now assume after a little bit of direction this was due to the JV talks.

One thing to also note, in the eventually we are still doing Cole Creek re-completion works(likely as there are many more wells in the pipeline) I have been told these will run simultaneously to the horizontal drilling.

Try these…then click APD to see the file

http://pipeline.wyo.gov/Wellapi.Cfm?oops=ID4458&nAPINO=949002

http://pipeline.wyo.gov/Wellapi.Cfm?oops=ID4458&nAPINO=949001

Reasonable to assume we won’t hear anything on this until JV terms are agreed and signed as this will be included in the talks.

That’s correct… Two horizontal permits both approved for the FED Deep so COPL can start drilling when they’re ready.

http://pipeline.wyo.gov/whatups/whatupapds.cfm?nautonum=330250

http://pipeline.wyo.gov/whatups/whatupapds.cfm?nautonum=330249